In law as well as economics, the most well-known aspect of Coase's “The Problem of Social Cost,” is the Coase Theorem. Over the decades, that particular notion has morphed into a crucial component of Chicago law and economics — namely, transaction cost analysis. In this Article, I...

Political economists are learning to adapt network analytics and theories of evolutionary selection to build better models of large-scale socio-economic processes. A complex systems approach offers the conceptual tools to unify these efforts to understand large systems and their macroscopic...

This paper suggests that contemporary economics is characterized by three key features. First, it is focused on "big questions" in political economy and is willing to look outside economics to search for these questions and their answers. Second, contemporary economics is empirically focused....

Revolutions do not consolidate until they blend with the establishment to create a new world. Keynes understood it, and that is why he titled his masterwork The General Theory. But he was unsuccessful in the blending. In 2020-21, it is argued in here, we all follow Keynes, but with insufficient...

This article, presented to the Annual Conference of the History of Economics Society, Vancouver July 1996, gives a historical analysis of the origins of the general equilibrium or comparative static approach and demonstrates that economic thought as a whole is divided, in each of its schools of...

The vast majority of pre-Classical and of many Classical economists thought that it was natural to incorporate value judgments and norms in their economic reasoning. However, there was a gradual dominance of the idea of a neutral or value-free economic science which gained momentum with the...

In this paper we have presented arguments for simplicity as epistemological criterion of economic research. In particular, have been important aspects that show how the tradition of the theory, to make principle simplicity to represent many empirical data of experience or information, was one of...

This paper deals with the analytical weakness of a number of papers which are published in the journals of history of economic thought. The aim is to highlight the need to combine the historical sensibility with both the logical consistency and the formal rigour of the analysis.

A new management technology, based on modern developments in macroeconomics, was offered. It is aimed at the highest issues of state and society governing as well as finding methods of their solving. The grounding of necessity of separate supramacroeconomical level of management establishment...

This article aims to discuss an evaluation of the concept of paradigm of T. Kuhn in his representative work: The Structure of Scientific Revolutions ERC, [Ku96] and the complementary version by W. Stegmüller, Structure and dynamics of theories EDT, [Steg83]. This refined interpretation of the...